LIC’s Lifetime Pension Plan 2025 : The Life Insurance Corporation of India (LIC) has introduced a powerful solution for retirement planning – a lifetime pension plan that offers guaranteed monthly income after a single lump sum investment. This scheme, tailored especially for senior citizens and those planning for a financially secure retirement, promises lifelong payouts and peace of mind.
With a one-time payment, policyholders can receive monthly income for life, making it a smart option for retirees, housewives, or anyone looking for fixed income post-retirement. Let’s dive into the full details of this LIC pension plan.
What is LIC’s Lifetime Pension Plan?
LIC’s new annuity-based scheme is a single premium, non-linked, non-participating pension plan that offers guaranteed income for life. Once you pay the lump sum premium, you start receiving a monthly, quarterly, half-yearly, or annual pension — depending on your choice — for as long as you live.
Key Features:
- One-time investment, lifetime benefit
- Monthly income starts immediately or after a chosen deferment period
- Multiple annuity options to choose from
- Return of purchase price available in select options
- Suitable for retirees, senior citizens, and non-working spouses
Annuity Options Available Under LIC’s Pension Plan
LIC’s Lifetime Pension Plan offers multiple annuity options, which cater to different income and financial goals. You can choose between immediate or deferred annuity, with or without return of purchase price.
Here are some of the most popular annuity options:
- Immediate Annuity for Life
- Immediate Annuity with Return of Purchase Price
- Joint Life Annuity (for you and spouse)
- Deferred Annuity with Fixed Pension
- Deferred Annuity with Return of Purchase Price
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Sample Pension Payouts Based on One-Time Investment
Here’s a detailed look at sample monthly pension payouts based on a one-time premium. The figures below give an idea of what you can earn monthly, depending on how much you invest:
| One-Time Investment (₹) | Annuity Option | Monthly Pension (Approx.) | Return of Purchase Price |
|---|---|---|---|
| ₹5,00,000 | Immediate Life Annuity | ₹3,200 | No |
| ₹5,00,000 | Life Annuity + Return Price | ₹2,500 | Yes |
| ₹10,00,000 | Immediate Life Annuity | ₹6,400 | No |
| ₹10,00,000 | Life Annuity + Return Price | ₹5,100 | Yes |
| ₹15,00,000 | Joint Life Annuity | ₹6,800 | Yes |
| ₹20,00,000 | Life + 20 Years Guaranteed | ₹8,300 | No |
| ₹25,00,000 | Deferred Annuity (5 Years) | ₹10,500 | Yes |
Note: Actual pension may vary based on age, gender, deferment period, and annuity option chosen.
Eligibility Criteria for LIC’s Lifetime Pension Plan
Before you invest, make sure you meet the eligibility requirements:
- Entry Age: 30 to 85 years (varies with annuity option)
- Minimum Purchase Price: ₹1,50,000
- Maximum Purchase Price: No upper limit
- Minimum Pension: ₹1,000/month
- Mode of Annuity: Monthly, Quarterly, Half-Yearly, Yearly
Benefits of Investing in LIC’s One-Time Pension Scheme
This lifetime pension plan is designed to bring financial independence and predictability in your retirement years. Here are the major benefits:
- Guaranteed Lifetime Income: No worry of income stopping at old age
- Flexible Payout Options: Monthly, quarterly, half-yearly, or yearly
- Joint Life Options: Cover for spouse or dependent
- Safe Investment: Backed by LIC and Govt of India
- Return of Purchase Price: Option to get full premium back to nominee
Who Should Consider This LIC Pension Plan?
This plan is ideal for:
- Senior citizens seeking regular monthly income
- Individuals planning early retirement
- Housewives or dependents without a regular income source
- People who recently retired and want to park retirement corpus
- Those looking for a low-risk investment with assured returns
Tax Benefits and Important Terms
- Section 80CCC: You may be eligible for tax benefits under the Income Tax Act for the amount invested.
- No Surrender Value: Some plans may not offer any surrender before annuity begins.
- Loan Facility: Available under certain annuity options with return of purchase price.
- Nominee Benefit: On death of the annuitant, nominee gets death benefit (if applicable under the selected plan).
Additional Table: Comparison of Annuity Options
| Annuity Option | Return of Purchase Price | Joint Life Allowed | Minimum Entry Age | Monthly Payout (on ₹10L) |
|---|---|---|---|---|
| Immediate Life Annuity | No | No | 30 years | ₹6,400 |
| Life Annuity + Return Price | Yes | No | 40 years | ₹5,100 |
| Joint Life with Return Price | Yes | Yes | 40 years | ₹4,900 |
| Deferred Annuity – 5 Years | Yes | Yes | 45 years | ₹10,500 (after deferment) |
| Life + 20 Years Guaranteed | No | No | 35 years | ₹8,300 |
| Life + 10 Years Guaranteed | No | No | 30 years | ₹7,200 |
| Immediate Annuity with Accrual | Yes | No | 50 years | ₹5,800 |
How to Buy LIC Lifetime Pension Plan
You can purchase the LIC Lifetime Pension Plan through:
- LIC Branch Offices: Visit your nearest LIC office
- LIC Agents: Get assistance and personalized plan suggestions
- LIC Website: Buy directly online via
- LIC Customer Care: Call or email for details and documentation
Keep these documents ready:
- Aadhaar card
- PAN card
- Age and address proof
- Passport-size photo
- Bank account details for pension credit
LIC’s new lifetime pension plan is a reliable and hassle-free retirement solution for those looking for stable monthly income with a one-time payment. With multiple annuity options and guaranteed lifelong payouts, it ensures that your retirement years are financially stress-free.
Whether you’re a retiree, planning to exit the workforce early, or someone seeking secure income for your spouse or parents, this pension scheme from LIC is worth considering.
This article is for informational purposes only. Please consult with a certified LIC agent or financial advisor to evaluate suitability based on your age, needs, and risk profile. Actual benefits and figures may vary depending on specific plan rules and market conditions.
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